The Bitcoin price is close to flat lining, but, for those veteran crypto currency traders out there, it is only a new opportunity around the corner. With the Bitcoin price valued at around 613 USD, the overall views right now are barely Bearish.
In today’s Bitcoin news, the BTC/USD has plunged to a two-month low after one of the biggest exchanges revealed it had been hacked.
As reported by the FT, “Hong Kong-based Bitfinex announced the security breach and froze all customer accounts late on Tuesday.”
“Bitfinex is the largest dollar-based exchange and third-largest globally behind OKCoin and BTC China, both of which are based in renminbi.”
The recent bearish BTC moves reveal that the Bitcoin price could be set to test key support.
However, the longer-term BTC USD trend higher remains intact, says latest research.
Does anyone have a clue why the sudden relaxed price movement?
The last time Bitcoin price made close to no movement, within a couple of hours we saw a very strong spike (27th of May), opening the door to a Bullish trend which ended on the 14th of July.
Since then, the